The MICEX is the leading stock floor where trading is held in stocks of over 100 Russian issuers, including such blue chips as RAO UES, LUKoil, Mosenergo, Rostelecom, Norilsk Nickel, Irkutskenergo and others. Trading is organized in the Stock Market Section. Over 400 banks and financial companies — members of the Stock Market Section — participate in trading. In 2000, the volume of transactions in stocks reached 472 billion rubles, which exceeds 6 times the results of 1999. At present, the share of the MICEX in the total turnover of leading exchange floors in the Russian stock market reached 80%.

The Stock Market Section:

• lays down the rules of admission of new Members and excluding from membership in the Section;
• establishes the order of admission of Section Members to carrying out transactions in the Section;
• lays down the rules of admission to trading (listing) and delisting of securities;
• lays down the rules of holding trading in the Section and the rules of settlement-and-clearing and depository service;
• informs Members of the Section and the media about the results of its activities;
• conducts analytical studies of the stock market;
• enables to maintain the high professional level of Members and their authorized representatives; performs other functions that contribute to the goals of the Section; and counteracts unfair competition.

Securities listed on the MICEX are highly liquid financial instruments of first-class issuers.

The MICEX has a two-level system of listing: securities, which have undergone the listing procedure, are put on first level quotation lists or second level quotation lists. Securities put on quotation lists of different levels must satisfy different requirements; there being different requirements for stocks and bonds.

The so-called "out-of-listing" securities can be admitted to trading on the MICEX without undergoing the listing procedure. There is a special simplified procedure stipulated for them.

The MICEX is Russia's first and leading trading floor, where placement is organized and secondary trading is held in corporate bonds of leading Russian companies and bank, such as Gazprom, LUKoil, Tumen Oil Company, RAO UES, Vneshtorgbank and others. In 1999-2001 in the MICEX Stock Market Section corporate bonds of 30 issuers to the total amount of over 45 billion rubles were placed.

One of the most important factors determining the quality of traded securities and the interest of investors in these assets is the level of corporate management of companies-issuers. Through its listing procedure the MICEX controls such important aspects of issuers' corporate management as transparency and insider trading.

The MICEX offers wide possibilities for the Internet-based trading.